Property score
82.6
Excellent
Overall 82.6 · Compared with neighbourhood average
1,711 sqft (top 41%) · Built in 1992 (3 yrs older than avg)
Located in a high-income area with median household income of ~106k
Transit 74.0 · 4-min walk to transit with 2 nearby routes · Within 500m: 1 dining spot, and 1 park nearby
Living Area
Near average
5% larger than neighborhood avg.
Year Built
Near average
3 yrs older than neighborhood avg.
Mother tongue
English · 71%French · 5%
Past 10 years Island Lakes sales snapshot (~80% of all data)
654
580k
$348/sqft
1995
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82.6 is composed by the two sections below.
Property Score
Community Score
Island Lakes
How to read: Share of sales in each ~$50k price band for “island lakes” (Detached houses (non-condo), 2024). The tallest band is the mainstream budget range; multi-year view shows how that band shifts over time.
Sales-to-New-Listings
1,196
sold
1,852
new listings
Manitoba Real Estate Association March public data on New Listings and Properties Sold across Manitoba
Sold Above Asking
Majority sold above asking
68 of 104 sold above asking · Manually compiled from MLS Winnipeg sold listings, May 4 – May 10, 2026
With a Sales-to-New-Listings ratio of 64.6% and 65% of homes selling above asking price, demand is clearly outpacing supply. Buyers are competing, which is putting upward pressure on prices.
Dissemination area (DA) — Statistics Canada 2021 Census · Area: #46110514
$106K
Median household income
$129K
Average household income
8%
Low income (LIM-AT)
0.3
Income inequality (Gini)
3.8
P90 / P10 ratio
18%
Single-person households
31%
Families with children
Figures are for the census dissemination area containing this listing location; sources and margins may apply per Statistics Canada.
Rank by land area, larger = better rank
Rank by year, newer = better rank
Rank by living area, larger = better rank
Rank by assessed value, higher = better rank
Bar: fill length ≈ share of peers you outperform. Fill color reflects tier (red / blue / amber / gray). “Avg” is a rough median benchmark for comparable homes in that scope.
To see this property on a map next to nearby houses—and compare year built, living area, assessed value, and lot size in detail—open the neighbourhood analysis page.
Nearby stops, routes & transit score
Dining, education, healthcare, shopping & more
116 Waterfront Road — 2 amenities found within 500 m, across 2 categories, including 1 dining (nearest 398 m), 1 parks (nearest 187 m).
Island Lakes · WPS public data · 2026
Annual incidents
3
2026
vs. city avg
-90%
relative to avg
Year-over-year
▼ -97%
vs. prior year
Primary type
Violent
67%
Same street
Same area
City-wide
| Metric | Same street | Same area | City-wide |
|---|---|---|---|
Sold price | Bottom 10% | Bottom 15% | Top 42% |
Request exact sold prices and history by email
Address · Year Built · Living Area
Address · Distance
Address · Tax-Assessed Value
Property Overview: 116 Waterfront Road, Island Lakes
Key Characteristics & Appeal
This two-storey home on Waterfront Road is a study in balanced, practical living within a well-established Winnipeg neighbourhood. Built in 1992, it is notably newer than most homes on its own street and above the citywide average, suggesting potentially fewer major age-related concerns. With 1,711 sqft of living space and a renovated basement, it offers comfortable room for a family. Its assessed value sits above the city median but is modest relative to its own Island Lakes area, which could indicate a value opportunity within this desirable community.
The appeal lies in its positioning as a solid, move-in-ready family home in a mature neighbourhood with a scenic name. It suits buyers looking for a pragmatic step-up home—perhaps growing families or professionals seeking space and stability without venturing into premium-priced territory. A thoughtful perspective is that its "around average" metrics within its immediate area suggest it won’t stand out for luxury or size, but rather for being a dependable, well-situated property in a community where newer builds are rare. It’s a home for those who prioritize neighbourhood character and practical space over having the largest lot or the most modern footprint on the block.
Frequently Asked Questions
1. How does the assessed value relate to the likely selling price?
The assessed value is for municipal tax purposes and is not a direct indicator of market value. However, being below the Island Lakes average but above the city average suggests this home may be priced accessibly within its specific, sought-after neighbourhood.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. Buyers should inquire about the finishes, permits, and whether it includes added bedrooms, a legal suite, or simply updated living space.
3. Is the property actually on the waterfront?
The address is on Waterfront Road in the Island Lakes neighbourhood, which features many waterways and ponds. You should verify the exact proximity to water, as lot sizes on the street vary and direct waterfront access is not guaranteed by the street name alone.
4. How does the 1992 build year affect the home?
A 1992 build is relatively recent for Winnipeg, meaning major components like wiring, plumbing, and windows may be more modern than in older homes. However, it is now 34 years old, so standard inspections for roof, HVAC, and other aging systems are still essential.
5. Why is the land area smaller than the street average?
At 6,206 sqft, the lot is smaller than the average for Waterfront Road (7,418 sqft). This means the yard may be more modest than some neighbours', but the lot is still above the city average, offering a reasonable outdoor space with potentially less maintenance.
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